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Leadership and Early-Mover Advantage
(The MIT Press, 2011)
This chapter shows how the pure-strategy Nash equilibria in investment games can exhibit a sequencing of investment timing. The chapter is organized as follows. Section 11.1 discusses the basic deterministic game-theoretic ...
Preemption versus Collaboration in a Duopoly
(The MIT Press, 2011)
This chapter examines preemptive investments and the possibility of tacit collusion among firms, delaying investment until a later date. It first presents the original deterministic model by Fudenberg and Tirole (1985) to ...
Competitive Strategy : Options and Games
(The MIT Press, 2011)
Corporate managers who face both strategic uncertainty and market uncertainty confront a classic trade-off between commitment and flexibility. They can stake a claim by making a large capital investment today, influencing ...
Uncertainty, Flexibility, and Real Options
(2011)
This chapter discusses the strategy formulation challenges encountered by firms when the underlying market is uncertain. Motivated by the uncertainty faced by European electric utilities, it discusses how real options ...